Smart grids are electrical distribution system with embedded computer intelligence to make each and every part of electrical transmission energy efficient and strictly controlled. Renewable energy systems are large scale projects utilizing renewable energy sources such as solar energy for commercial and industrial purposes. Smart grids are essentially one of the building blocks of renewable energy infrastructure. This book details the tools and techniques used in these systems such as power system analysis and optimization, power system planning and operation, service optimization for renewable energy supply, solar and wind power generation and utilization, development of smart grid, design of sustainable product-service business models, etc. The various studies that are constantly contributing towards advancing technologies and evolution of this field are examined in detail. In this book, using case studies and examples, constant effort has been made to make the understanding of the difficult concepts as easy and informative as possible, for the readers. Those in search of information to further their knowledge in the field of smart grids and renewable energy will be greatly assisted by this book.